HOME34 trade ideas
HD 255$Home Depot is one store that has done well during the COVID crisis because construction work and other blue-collar jobs are essential. They have been on a run up and my last prediction was 255 and it got to 259. It fell off but still stayed in the channel. Closed around the same price as Monday so no clear direction. I'm anticipating it to move upward. That's all I've got.
good luck, trade smart
this is not financial advice. I am new and learning so I apologize if the outcome isn't what I predicted.
Cup and Handle/Ascending Wedge/OOPsHD fell out of rising wedge, so to me it is becoming safer to trade. I like this one because you can swing trade it plus it is a good keeper as well
Low short volume and a well loved company.
Handle low is at 236/is where you should in reality place your stop but sometimes, especially in a market such as this, can be a good starting point to buy the stock. I am posting this as I look at it because the true breakout was at 246(ish) But due to irrational exuberance causing a rising wedge..Poof..it fell out.Rising wedges can mess with supply and demand at times so I am always a bit wary of them
Target 1: 288
Target 2: 313 to 332 Then I will play it by ear.
Stop should be under handle low which is 236 but I would place my stop under 232 at this point. Things are always changing!
We all have our own likes and dislikes so do your research and be safe (o:
Home Depot IncI placed a short quick trade after noticing
1. The up trend channel was broken
2. A gap to the down side at highs is formed
3. Previous swing low broken and stock made a Lower High and a Lower Low ( Good signal of a change in trend)
4. The Indicators - being Volume and Oscillators - changed to negative
5. Target to the weekly 50% Fib retracement
6. The broader market being the SPX and the NQ not in a strong uptrend too
HD: Ascending WedgeAscending Wedge on descending volume
Confirmed
Cons:
200MA still positive
PPS above 50MA
250RSI above 50
Going against the tide here.
Target = 209.01$
HD - swing PUTS, low riskNotice both yellow rectangles show a sharp stochastic move during a small price pullback. The larger selloff (white line) ensued after a retracement. I am looking for the same thing to happen here. One difference though is RSI did not drop as much the second time, so I will be looking for it to move below 50 in support of this trade.
I bought 7/17 expiry 230 puts, on June 16. When I go this far out in time I have to be willing to hold through paper losses as long as the chart supports my position.
I did not set a stop on this yesterday. After seeing the first hour's price action today, my stop is above today's high for a partial exit.
$HD Short idea$HD : $10 bounce from ATH
$247 was the the previous ATH before the virus rattled markets. This area should provide a level of support at the moment.
Would like to see a break above 254 to maintain a bullish outlook.
I fear that if the bulls loose control around $240, 230 and below can come quickly.
Also notable to see the SMI flip which although not bearish by itself, combined with the notional that $HD was rejected at its ATH, MACD is converging, there is a case to be made to see 243 again.
HD Bullish CYPHER completionHD Cypher pattern. measures out to D point completion. Notice how price had to exceed D point slightly to hit long-term Fib Level.. take profits are in green so as long as price remains above recent low you may have buyers with you to green take profits.
Breakout Algo Buy SignalNot Trading or Investment Advice!!!
My breakout algo issued a buy signal on 6/5.
Buy at 254.9
Wait for update on exit price
Risk control:
use 3% of portfolio capital
HDI like this chart lots of room to move the move up was at a steep 45 degree angle. Look for areas of support below.
Sell signal for HOME DEPOT INC stockA clear uptrend was breached, the selling volume is good and increasing downward, also there is a divergence on RSI, and its value is below 50.
$HD ShortA major beneficiary of the nation-wide lockdown restrictions, Home Depot has seen an increase in value over the past few weeks. Currently, however, $HD is displaying an abandoned baby sell-signal on the daily chart, a day after strong earnings. Fibonacci retracement .618 @ $207. Target: $207-209.
NEG RSI ON WEEKLY HAS NOW A SELL SIGNAL The chart posted is what I see as the top wave count based on my dec 23 forecast for 2020 I have maintain my view and given you all the turning points in time and price there are two time models fractal at work here The first is the window of time 1966 to 1982 in this timing fractal we are at the end of 1980 and will see very choppy down into late oct 2020 to jan 2021 .The 2nd is that we nearing the end of apr 2010
HOME DEPOT DOUBLE TOP +HEAD AND SHOULDERS FORMING- SHORTHOME DEPOT has bounced down from the double top all time high level.
Also, there is a strong daily level exactly where the stock price is trading right now.
One might find a reverse head and shoulders pattern forming, with a current expected move down creating the right shoulder.
The target is a strong horizontal structure support level.
Don't forget to hedge with long weekly calls when leaving position overnight to eliminate the gap up risk. Don't hold the options during daytime. Or just have your stop loss in form of options, if the price is right. This is more that a one week trade however, so monthly options as the most suitable.
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Wish you all best of luck in your trading!
HOME DEPOTThe Covid-19 happened for a reason for HD, a perfectly re-bounce follow exactly the HH-LL trend line. Also, the price follow exactly the movement of RSI.
The uptrend still continuos in a smaller time frame until the earning. However, I expect a nice bounce back for the next year. We should confirm the price fail to go over the uptrend 1 more time for a huge bounce back. When the Covid-19 is truly over, check the signal and Buy a Call Put to join the down team.
